Canvas Wealth Advisors LLC Invests $269,000 in KKR & Co. Inc. $KKR

Canvas Wealth Advisors LLC purchased a new stake in shares of KKR & Co. Inc. (NYSE:KKR) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 2,019 shares of the asset manager’s stock, valued at approximately $269,000.

Other hedge funds also recently added to or reduced their stakes in the company. Saudi Central Bank purchased a new stake in KKR & Co. Inc. during the 1st quarter valued at $28,000. DiNuzzo Private Wealth Inc. lifted its holdings in shares of KKR & Co. Inc. by 790.3% during the second quarter. DiNuzzo Private Wealth Inc. now owns 276 shares of the asset manager’s stock valued at $37,000 after purchasing an additional 245 shares in the last quarter. Mountain Hill Investment Partners Corp. purchased a new stake in shares of KKR & Co. Inc. during the first quarter valued at $38,000. GW&K Investment Management LLC increased its holdings in KKR & Co. Inc. by 44.6% in the 1st quarter. GW&K Investment Management LLC now owns 360 shares of the asset manager’s stock worth $42,000 after buying an additional 111 shares in the last quarter. Finally, SouthState Corp purchased a new position in KKR & Co. Inc. in the 1st quarter worth about $44,000. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

KKR & Co. Inc. Trading Up 2.2%

NYSE:KKR opened at $120.20 on Tuesday. KKR & Co. Inc. has a one year low of $86.15 and a one year high of $170.40. The business has a fifty day moving average price of $135.80 and a 200-day moving average price of $129.08. The firm has a market capitalization of $107.09 billion, a price-to-earnings ratio of 55.91, a price-to-earnings-growth ratio of 1.32 and a beta of 1.91. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.08 and a quick ratio of 0.08.

KKR & Co. Inc. (NYSE:KKR) last released its quarterly earnings results on Thursday, July 31st. The asset manager reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.04. The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.81 billion. KKR & Co. Inc. had a return on equity of 6.30% and a net margin of 12.95%.During the same quarter in the previous year, the company posted $1.09 earnings per share. Sell-side analysts forecast that KKR & Co. Inc. will post 5.19 EPS for the current year.

KKR & Co. Inc. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 11th were paid a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Monday, August 11th. This is a positive change from KKR & Co. Inc.’s previous quarterly dividend of $0.18. KKR & Co. Inc.’s dividend payout ratio (DPR) is 34.42%.

Insider Buying and Selling

In other KKR & Co. Inc. news, Chairman George R. Roberts sold 809,906 shares of KKR & Co. Inc. stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $144.25, for a total transaction of $116,828,940.50. Following the transaction, the chairman owned 81,361,978 shares of the company’s stock, valued at $11,736,465,326.50. The trade was a 0.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 39.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on KKR. Weiss Ratings downgraded shares of KKR & Co. Inc. from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, October 8th. Wells Fargo & Company increased their price target on KKR & Co. Inc. from $140.00 to $156.00 and gave the company an “overweight” rating in a report on Friday, July 11th. Citigroup cut their price objective on KKR & Co. Inc. from $170.00 to $150.00 and set a “buy” rating for the company in a report on Monday, October 13th. Citizens Jmp cut KKR & Co. Inc. from an “outperform” rating to a “market perform” rating in a research report on Monday, July 14th. Finally, Keefe, Bruyette & Woods raised their target price on KKR & Co. Inc. from $155.00 to $162.00 and gave the stock an “outperform” rating in a research report on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, KKR & Co. Inc. presently has a consensus rating of “Moderate Buy” and a consensus target price of $156.20.

KKR & Co. Inc. Company Profile

KKR & Co, Inc operates as an investment firm. It offers alternative asset management as well as capital markets and insurance solutions. The firm’s business segments include Asset Management and Insurance Business. The Asset Management segment engages in providing private equity, real assets, credit and liquid strategies, capital markets, and principal activities.